[2014-05-14] SCMP: Li Ka-shing boosts BTC investments amid currency crackdown

[bryant.coleman]

http://www.scmp.com/news/hong-kong/article/1512113/li-ka-shing-boosts-bitcoin-investments-amid-currency-crackdown-china

Asia’s richest man Li Ka-shing has boosted his investment in bitcoin, in a vote of confidence for the beleaguered digital currency, amid a crackdown on its widespread popularity in China. Despite the price of a bitcoin tumbling from political pressure, the billionaire tycoon has poured an undisclosed amount of money, believed to be worth millions of dollars, into Bitpay, the bitcoin equivalent to PayPal, through his venture capital investment company Horizons Ventures.

[notthematrix]

http://www.scmp.com/news/hong-kong/article/1512113/li-ka-shing-boosts-bitcoin-investments-amid-currency-crackdown-china

Asia’s richest man Li Ka-shing has boosted his investment in bitcoin, in a vote of confidence for the beleaguered digital currency, amid a crackdown on its widespread popularity in China. Despite the price of a bitcoin tumbling from political pressure, the billionaire tycoon has poured an undisclosed amount of money, believed to be worth millions of dollars, into Bitpay, the bitcoin equivalent to PayPal, through his venture capital investment company Horizons Ventures.

He knows bitcoin can not be cracked down , its that simple.

[erono]

Asia’s richest man Li Ka-shing in love with bitcoins.

[bryant.coleman]

Asia’s richest man Li Ka-shing in love with bitcoins.

Just compare Li Ka-shing with Warren Buffet. The former is not afraid of new innovations and ideas, and the latter is afraid of new technology. After 2-3 years, we'll know who was right. 

[Este Nuno]

I'd like to see him publically buy a large chunk of actual btc.

[bryant.coleman]

I'd like to see him publically buy a large chunk of actual btc.

No one buys Bitcoin publicly. Bitcoin is meant for anonymous trading, unlike the fiat currencies. And why should anyone do that publicly? Bitcoin is still banned in certain countries such as China.

[Este Nuno]

I'd like to see him publically buy a large chunk of actual btc.

No one buys Bitcoin publicly. Bitcoin is meant for anonymous trading, unlike the fiat currencies. And why should anyone do that publicly? Bitcoin is still banned in certain countries such as China.

A billionaire who buys it to bitcoin would be smart to make his investment public since it will likely inspire confidence in bitcoin. People are naturally followers and when the richest people in the world are investing in something, people want in.

[bryant.coleman]

A billionaire who buys it to bitcoin would be smart to make his investment public since it will likely inspire confidence in bitcoin. People are naturally followers and when the richest people in the world are investing in something, people want in.

Li Ka-shing is a very intelligent person. He knows the merits and demerits of making public any Bitcoin bulk purchase. He might have thought hard and decided against publicizing it.